Crypto Market Slumps 2.5% as BMNR Leads Decline

The cryptocurrency market experienced a significant downturn on Tuesday, July 28, 2026, as the overall market capitalization fell by 2.5% to around $2.45 trillion. This decline wiped out more than $530 million in long bets.

BMNR stock led the decline in crypto equities in pre-market trade, followed closely by shares of CRCL, MSTR, and ASST. The drop came amid broader weakness in both the equities and cryptocurrency markets.

The price of Bitcoin (BTC) fell to around $63,000, triggering another wave of liquidations. More than $630 million in leveraged cryptocurrency positions were liquidated over the past 24 hours, with long traders accounting for more than $530 million of the losses.